Hello and welcome to exampundit . Here are the important Current Affairs of 4th and 5th November, 2016. These are important for the upcoming IBPS PO MAINS, IBPS CLERK MAINS, NIACL AO Mains and Other Mains Exams.
Current Affairs at a Glance – 4-5 November, 2016
- Earthport Plc, the leading payment network
for cross-border transactions, has received
the Reserve Bank of India’s permission to provide outbound
cross border payment services to banks in India. - Construction major HCC’s Rs 5,000
crore debt recast has become the first case to get approval of a high-level panel set up under RBI’s new Scheme
for Sustainable Structuring of Stressed Assets
(S4A). - Telecom Sector Skill Council (TSSC), a not-for-profit public-private partnership
between National Skill Development Corporation and the industry, has signed a memorandum of understanding
(MoU) with Taiwan to strengthen cooperation
in the field of corporate job vacancies and recruitment services post skilling
in India and internationally. - Indo-Bangla joint military training exercise SAMPRITI commenced on 5 November
2016 at Tangail, Dhaka. - An Inter-Ministerial Committee of
the Information and Broadcasting Ministry in the first week of November 2016
asked for one-day ban on a leading Hindi News Channel, NDTV India from 12.01 A.M. of 9 November to 12.01 A.M. of 10
November 2016. - Google on 3 November 2016 tied
up with Archaeological
Survey of India (ASI) for 360
degree virtual tour of 280-odd monuments across the country. - Sanjiv Arora appointed as India’s
Ambassador to Lebanon. - Praveen Kumar Sharma was today appointed
as Managing Director and Chief Executive Officer of Central Registry of
Securitisation Asset Reconstruction and Security Interest of India (Cersai). - Indian actor Rekha will be honoured by the upcoming Dubai
International Film Festival (DIFF) with a Lifetime Achievement Award. The
festival will commence on 7 December 2016 and will conclude on 14 December
2016. - The First World Tsunami Awareness Day was observed across the world on 5
November 2016. - Global Media and Information Literacy Week 2016 observed from 31
October to 5 November 2016.
Finance/Banking –
Earthport gets RBI nod to operate cross border payments service to
India
India
- Earthport Plc, the leading
payment network for cross-border transactions, has received the Reserve Bank of
India’s permission to provide outbound cross border payment services to banks
in India. - The approval is part of both RBI
and Indian government’s move to facilitate the cross border payments to and
from India which is the largest remittance-receiving country in 2015, with an
estimated $69 billion. - India, which is one of the
fastest growing market for cross border payments, had an estimated volume of
$266 b in exports and $396 b in imports in the financial year 2015-16. - Earthport has been facilitating
inbound payments into India on behalf of its overseas clients. Now, with this
approval from the RBI, Earthport can also process outbound cross border
payments for banks in India. The RBI approval was preceded by an extensive
review of Earthport and its business model by the Indian Banks’ Association
(IBA) following which the later recommended the approval to the RBI.
HCC gets relief under RBI ‘s S4A sheme
- Construction major HCC’s Rs 5,000
crore debt recast has become the first case to get approval of a high-level
panel set up under RBI’s new scheme for Sustainable Structuring of Stressed
Assets (S4A). - The scheme, which was passed by
an ICICI Bank-led joint lender forum in September, has been approved by the
RBI- mandated overseeing committee and can be implemented now, banking sources
said. - Under this recast of HCC’s Rs
5,000 crore debt, which has become the first successful resolution case under
the RBI’s highly-ambitious S4A tool, 52 percent of debt worth Rs 2,600 crore
was found to be sustainable. This would be serviced as per the original terms
and conditions, including about interest rate and tenure. - Out of the remaining 48 percent
totalling up to Rs 2,400 crore, debt of Rs 1,000 crore would be converted into
equity for the banks, which could eventually give them 25 percent stake in the
company’s post-scheme equity capital.
Telecom Sector Skill Council inks MoU with Taiwan
- Telecom Sector Skill Council
(TSSC), a not-for-profit public-private partnership between National Skill
Development Corporation and the industry, has signed a memorandum of
understanding (MoU) with Taiwan to strengthen cooperation in the field of
corporate job vacancies and recruitment services post skilling in India and
internationally. - Under the MoU, TSSC will provide
rightly trained/skilled workforce to Taiwan for employment in Taiwan and in
return Taiwan’s Ministry of Economic Affairs will provide the details of opportunities
to serve various organisations that seek the service of professionals trained by
TSSC, a company release said.
GST Council fixes four tier tax structure under Goods and Services Tax
- The GST council on 3 November
2016 approved four tier tax structure of 5, 12, 18 and 28 percent under the
proposed Goods and Services Tax (GST). - There will be two standard tax
rates- 12 percent and 18 percent under the GST. Under the tax structure of 5,
12, 18 and 28 percent, the lower rates will be applicable for essential items
and the highest for luxury and de-merits goods that will also attract an
additional cess.
Main Highlights
- Essential items including food,
which presently constitute roughly half of the consumer inflation basket, will
be taxed at zero rate. - The lowest rate of 5 percent will
be for common use items while there will be two standard rates of 12 and 18
percent under the Goods and Services Tax (GST) regime. - Most white goods like washing
machines, air conditioners, refrigerators, shampoo, shaving stuff and soap will
be taxed at 28 percent (with riders). - The highest tax slab will be
applicable to items which are currently taxed at 30-31 percent (excise duty
plus VAT). - Demerit goods or sin goods such
as luxury cars, pan masala, aerated drinks, and tobacco and tobacco products,
will invite a tax of 28 percent plus the cess which could vary between 40
percent and 65 percent. - There has been no consensus yet
on tax rate for gold. - The collection from this cess as
well as that of the clean energy cess will create a revenue pool which will be
used for compensating states for any loss of revenue during the first five
years of implementation of GST. - The cess will be lapsable after
five years.
India –
6th Indo-Bangla joint military exercise SAMPRITI commences
- Indo-Bangla joint military
training exercise SAMPRITI commenced on 5 November 2016 at Tangail, Dhaka. - This is the sixth edition of the
exercise which is hosted alternately by both countries. The exercise is an
important bilateral defence cooperation endeavour between the two countries. - The exercise will simulate a
scenario where both nations are working together in a counter insurgency and
counter terrorism environment under the UN Charter. - The participants will initially
get familiar with each other’s organizational structure and tactical drills
during the exercise.
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India, China agree to maintain high-level exchanges
- India and China have agreed to
maintain the pace of their high-level exchanges in counter-terrorism and other
fields after “friendly and open” discussions between their National
Security Advisors. - NSA Ajit Doval and his Chinese
counterpart Yang Jiechi, State Councillor, concluded their discussions in
Hyderabad yesterday in a “friendly, open and cordial environment”, it
was officially stated here today. - Ministry of External Affairs said
their discussions covered a wide agenda spanning bilateral, regional and
international issues of mutual interest. It was Yang’s third visit to India in
the last two months. - The two sides agreed to maintain
the pace of high-level exchanges in political, economic, defence and counter-
terrorism fields.
NDTV India ordered to be taken off air for 24 hours
- An Inter-Ministerial Committee of
the Information and Broadcasting Ministry in the first week of November 2016
asked for one-day ban on a leading Hindi News Channel, NDTV India from 12.01
A.M. of 9 November to 12.01 A.M. of 10 November 2016. - The channel is facing the
possibility of a complete blackout for 24 hours for revealing
strategically-sensitive information during its coverage of the anti-terror
operations at the Pathankot airbase in January 2016. The telecast under scanner
was aired on 2 January 2016 when Indian military forces were preparing their
counter attack strategy at the Pathankot airbase. - The order by the
Inter-Ministerial Committee claimed that the channel revealed several
confidential details like location of the ammunition depot, details of arms
cache and fighter planes, details of schools and residential areas located
around the airbase, endangering lives of both civilians and defense personnel.
Google ties up with ASI for virtual tour of monuments
- Google on 3 November 2016 tied up
with Archaeological Survey of India (ASI) for 360 degree virtual tour of
280-odd monuments across the country. - Out of 280 monuments, 30 are in
West Bengal. Some of the major monuments are Taj Mahal, Victoria Memorial and
the ruins of Hampi. - Recently, Google also launched an
array of products in India like offline view of maps, live traffic alerts and
inclusion of unknown places on the maps by local guides.
India to host Seventh Session of the Conference of Parties
- The Union Ministry of Health and
Family Welfare, Government of India, will be hosting the Seventh Session of the
Conference of Parties (COP7). The Conference will be inaugurated by J P Nadda,
Union Minister of Health and Family Welfare. - The Conference will be held from
7 November to 12 November 2016, at India Exposition Mart, Greater Noida,
District Gautam Buddha Nagar, Uttar Pradesh. - It is the first occasion that a
Conference of Parties meeting is being held in India. It signals a strong
commitment of the Government of India to increase international co-operation
and awareness of the WHO Framework Convention on Tobacco Control (FCTC)
globally and especially in the WHO South-East Asia Region. The Conference will
lead into Delhi Declaration for supporting measures for tobacco control.
Appointments –
Sanjiv Arora appointed as India’s Ambassador to Lebanon
- Sanjiv Arora, an Indian Foreign
Service (IFS) officer, was on 31 October 2016 appointed as the Ambassador of
India to the Republic of Lebanon by Ministry of External Affairs (MEA).
Lebanon, officially known as the Lebanese Republic, is a sovereign state in
Western Asia. - He is expected to take up the
assignment shortly.
Praveen Kumar Sharma appointed MD and CEO of Cersai
- Praveen Kumar Sharma was today
appointed as Managing Director and Chief Executive Officer of Central Registry
of Securitisation Asset Reconstruction and Security Interest of India (Cersai). - Sharma is General Manager, State
Bank of India. - The Appointments Committee of
Cabinet has approved his appointment for three years, an order issued by
Department of Personnel and Training said. - Cersai is providing the platform
for filing registrations of transactions of securitisation, asset
reconstruction and security interest by the banks and financial institutions.
Awards & Honors –
Dubai International Film Festival to honour Rekha with a Lifetime
Achievement Award
Achievement Award
- Indian actor Rekha will be
honoured by the upcoming Dubai International Film Festival (DIFF) with a
Lifetime Achievement Award. The festival will commence on 7 December 2016 and
will conclude on 14 December 2016. - Rekha will be honoured for her
40-year career and participation in more than 180 films.
Shamik Chowdhury wins the German Green Talent award
- Indian researcher Shamik
Chowdhury in the last week of October 2016 was awarded the German Green Talent
Award. His name is among the list of 25 young researchers who have been
honoured with the award. - The award was conferred to Shamik
Chowdhury by the German Federal Ministry of Education and Research for his
innovative approach in sustainable development, resource efficiency, cleaner
production and eco-innovation.
Days –
First World Tsunami Awareness Day observed
- The First World Tsunami Awareness
Day was observed across the world on 5 November 2016. The theme for the year is
Effective Education and Evacuation Drills. - In December 2015, the United
Nations General Assembly designated 5 November as World Tsunami Awareness Day.
Global Media and Information Literacy Week 2016 observed
- Global Media and Information
Literacy Week 2016 observed from 31 October to 5 November 2016. The Global MIL
Week was organised under the theme Media and Information Literacy: New
Paradigms for Intercultural Dialogue. - This was the sixth MIL Week and
was jointly organised by UNESCO, UNAOC, Global Alliance for Partnerships on
Media and Information Literacy (GAPMIL) and the Media and Information Literacy
and Intercultural Dialogue (MILID) International University Network, in
partnership with the University of Sao Paulo. - The Sixth MILID Conference and
the First General Assembly of GAPMIL - The Global MIL Week 2016 was
hosted by the University of Sao Paulo, Brazil, and it took place from 2 to 5
November 2016
Obituaries –
Sri Lankan singer Pandit Amaradeva passes away
- Legendary Sri Lankan singer and
composer Pandit Amaradeva passed away on 3 November 2016 following a cardiac
arrest. He was 88. - He had been the recipient of many
international honours including Padma Shri for his contribution to music.
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